Thursday, 14 July 2016

Sensex consolidates, Midcap outperforms; Max India falls 5%

Max India lost 5 percent to Rs 171 after listing at Rs 180 on National Stock Exchange. 

10:15 am FII View: Mark Mobius of Templeton EM Group says, "The Brexit event actually brightens our view of emerging markets and the investment potential we see for the long term."

He feels the Brexit vote shows the world that political instability is not concentrated in emerging markets, it can be found even in developed markets.

"While volatility may be with us a while, the markets have already begun to readjust. Part of the volatility was related to the surprise element of the vote. The markets simply did not price the 'leave' scenario in properly," he says.

Also read - TCS Q1 profit seen down 4.7%, dollar revenue growth may be 3.8%: Poll 

10:00 am Market Check 

Equity benchmarks continued to consolidate for the second consecutive session today with the Nifty hovering around 8500 level while the broader markets outperformed. The BSE Midcap and Smallcap indices gained 0.2-0.5 percent.

Max India lost 5 percent to Rs 171 after listing at Rs 180 on National Stock Exchange.
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